Earl Bentz is a Bass Fishing Hall of Fame member and the founder of Caymas Boats.
Earl Bentz is excited about the new start that will be under private-equity ownership.
Bentz, who will remain at the helm, says he is as excited as he was when he first started the company.Bentz believes the move to focus on core brands and marine segments will be a good one for the company he founded in 1996.
Bentz said it was nice to be working with a group in Arkansas who know and understand the fishing industry.Our team is very excited about it.
The manufacturing operation of fiberglass boats will be moved from Tennessee to Arkansas.Bentz says that the change in ownership will allow the company to offer all brands.
The private equity firm bought Genmar's Ranger and Stratos brands last winter.Bentz founded a brand called Stratos in 1983.The boats will be made under a license agreement.
He says that there will be a partnership from a manufacturing perspective.He is careful to point out that all three brands will be different.They will keep individual designs, sales organizations and leadership.
Some industry watchers were surprised by the sale of Triton, which they saw as one of the jewels in the list of brands.Bentz said there had been rumors that the plant in Tennessee would be sold.
Bentz was in charge of Triton for five years.Bentz is happy when he is able to use his entrepreneurial spirit.
Ben said it was an "awful lot of fun" to be back at the helm of the company that he started.
Bentz began making dealer connections in 1975, when he started his bass boat career.Bentz has been in the marine industry before.
Bentz began rigging boats when he was 14.He became enamored with his uncle's passion for boat racing after he was hired to do service.
Bentz was invited to join the Mercury Racing Team despite a near-fatal crash that broke his back and he went on to win nine national and two world championship titles.
Bentz became the first person to drive a bass boat powered by a V6 outboard in 1975, when he was doing research and development for Hydra-Sports.
When Bentz retired from racing, he headed customer service and sales.He left in 1983 to found Stratos Boats.In 1987 he sold the brand to Outboard Marine Corp., which became the world's largest producer of fiberglass fishing boats.
He founded Triton Boats in 1996 to make a wood-free fishing boat.Bentz was the CEO when the brand was bought by Brunswick.
In order to boost its bottom line, the company has shed several brands.Bentz says that the market was down 60 percent and the plant was over capacity.
If we had stayed under this roof, we would have been looking at price increases in the 15 to 18 percent range.It would not have allowed dealers to be competitive in the marketplace.We can keep dealers competitive by doing what we are doing.
Things were good when we built these facilities.Bentz says that there is only so much you can do to cut expenses.There is a big horse that eats a lot of hay.This new arrangement is one way to make money in a down market.
The market for sportfishing boats continued to decline even though the company began manufacturing them at its Tennessee facility to make up for low demand during the recession.
Bentz says that Ranger and Stratos had the same problem with under utilization of facilities.They are looking for more dollar and unit volume.
Bentz says that adding Triton to the Flippin plant will make the facility more efficient.The Flippin facility has been open for nearly 50 years and has experienced workers.
Bentz says he is not concerned about the quality going forward.Triton has a reputation of being a premier brand.
Bentz says the plant has 500,000 square feet and sits on 140 acres of land.The Tennessee facility has 290,000 square feet.
Bentz says that the Tennessee facility still makes trophy boats and was not involved in the transaction with Platinum.The new office space in Nashville will be used for sales, customer service, marketing and product development.Bentz says payroll, human resources, invoices, accounting and manufacturing will occur at the Arkansas facility.
Bentz says that many of their manufacturing employees will be given the chance to go to Arkansas to continue building boats.Some employees are looking at houses there, others have put their houses on the market, and many have expressed interest in being a part of it.
"This move to pick Platinum ensures the success of the brand, and I am grateful thatDusty has handled things fairly and properly for the shareholders," Bentz says.He helped make me a part of it.
Bentz says he has a long-term relationship with Platinum.Since entering the marine industry, Platinum has barely been heard from.
Bentz says that they have been nice and courteous.Our job is to provide an excellent product for the dealers and back it up with great service.The bottom line is to have a profitable brand.
Bentz says that the strategy has always been to be in separate dealerships.The goal is not to put them all under the same roof, but on a case-by-case basis.
After 44 years in the business, founding two brands and working with two of the largest boat-owning companies, Bentz seems excited to once again be driving product and marketing decisions.
The number of fishermen has increased despite the market being down.I am excited to keep this business going.
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